Open Cosmos Raises €300 Million to Expand Satellite Production and Space Data Services

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Developments are coming thick and fast in European space tech. European satellite manufacturer Open Cosmos has secured €300 million in funding. Led by Lightrock, the round will support an expansion of satellite production and services spanning Earth observation, communications and data analysis. The Exploration Company and Isar Aerospace have also recently announced funding rounds worth hundreds of millions.

Participants in the Open Cosmos round include ETF Partners, Institut Català de Finances, Entrepreneurs First and two unnamed international pension funds. Other investors include Trill Impact, Convex Group, the UK’s National Security Strategic Investment Fund, Phoenix Court and Claret Capital Partners. The company did not disclose a valuation.

Four Factories and Nearly 400 Employees

Open Cosmos designs, builds and operates satellites for governments, space agencies and businesses in sectors including energy and infrastructure. The company employs nearly 400 people across locations in the UK, Spain, Portugal and Greece. According to Open Cosmos, its four European factories have the combined capacity to manufacture one satellite a day.

The company says it has signed customer contracts worth more than $370 million over the past three and a half years. It also reports five consecutive years of profitable growth, although the announcement provides no specific revenue or profit figures.

Bringing Earth Observation and Communications Together

Open Cosmos plans to use the funding to expand several services. OpenConstellation allows governments and organisations to share satellite infrastructure for Earth observation. ConnectedCosmos is designed to provide broadband connectivity and communications for connected devices. DataCosmos processes satellite imagery and sensor data. The company also plans to expand its engineering, manufacturing and software teams.

“By bringing together satellites, secure communications and AI-powered data services, we’re creating a system that transforms information from orbit into something that governments and enterprises can act on,” Rafel Jorda Siquier, founder and CEO of Open Cosmos, said in the announcement. The investment will help the company fulfil existing satellite orders and expand its communications and data services.

Connecting these services is intended to make information from space available more quickly. According to Open Cosmos, its latest generation of Earth observation satellites has reduced the time needed to deliver analysed data from up to 48 hours to as little as 30 minutes. The satellites use onboard AI processing and communications between spacecraft. One potential application is early wildfire detection: satellites could identify unusual temperature increases and relay information to areas without terrestrial internet access.

The Exploration Company Announces Major Funding Round

The Exploration Company also recently announced fresh capital to develop European space infrastructure. The French-German space company unveiled a $450 million Series C round, co-led by Bessemer Venture Partners, Atomico and the EQT-managed Scaleup Europe Fund. The funding will primarily support its reusable Nyx space capsule and Storm rocket engine. The financing remains subject to the required regulatory approvals.

ESA Contract Worth Up to €760 Million

The announcement was followed shortly afterwards by an ESA contract potentially worth €760 million. Of that amount, €310 million is allocated to a Nyx demonstration mission to the International Space Station. A further €450 million covers two optional service missions that remain to be confirmed.

The contract is part of ESA’s ALADDIN programme, which aims to establish an independent European capability to transport cargo to low Earth orbit and back.

Isar Aerospace: €270 Million and a Successful Flight to Orbit

A few months earlier, Munich-based space company Isar Aerospace announced a €270 million Series D funding round. New investors include Island Green Capital and Molten Ventures. Existing backers including HV Capital, Lakestar and UVC Partners, alongside co-investor KfW Capital, also participated. The funding will support serial production of the Spectrum launch vehicle and international expansion, including an additional launch site in Canada.

The company recently completed the first successful flight of its Spectrum rocket to Earth orbit. On its second test flight, the rocket lifted off from Norway’s Andøya spaceport and deployed five satellites in orbit. Among them was SpaceTeamSat1, a small satellite developed by the TU Wien Space Team. The flight demonstrated Isar Aerospace’s ability to deliver satellites to orbit. Its next step is to expand production for further missions.